The volatility in the iron ore prices that characterized seaborne prices in 2017 is still continuing. While prices peaked at $95 per ton in February and hit a bottom of $53 per ton in July, they’ve been in the stable range of $63–$68 per ton lately.

Demand for the product in any sector is the driving force behind the production growth and outlook. Similarly, in the US steel sector, demand for steel drives the revenues for US steelmakers’ (SLX) revenue.